KIM kimberley diamond company nl.


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    Kimberley betters last diamond sale

    Andrea Hayward

    Monday, July 05, 2004
    KIMBERLEY Diamond Co has eclipsed its last sale of run-of-mine diamonds in Antwerp by US$117/carat, reaping A$3.968 million for the company.

    The 8,027 carats of rough diamonds from Ellendale Pipe 9 were sold by tender in Antwerp at an average price of US$346/carat.

    It was Kimberley's twenty-second diamond sale, exceeding the last sale of 9528ct at an average price of US$229/ct in February.

    Kimberley chairman Miles Kennedy said the diamonds were mainly processed through the 2.2mtpa diamond recovery plant which was commissioned and handed over to Kimberley on May 12, 2004.

    The company has announced details of its spin off IPO – Blina Diamonds – which is seeking to raise $10.4 million for further exploration in the Ellendale diamond field in Western Australia.

    Blina has lodged a prospectus for the issue of up to 34.7 million shares at 30c each with a minimum subscription of $7 million.

    Shares in Kimberley were trading up 4% to $1.34 in afternoon trade.

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